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Dec 4, 2012
12/12
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caller: looking at the fiscal cliff, we go back to 2001 with the lowering of the tax rates, meant to create jobs. but in the past 10 or 11 years, we have not had any job creation whatsoever. we keep going back and hearing over and over again that it's going to cost jobs. we do not have jobs to begin with. businesses are out to make money. if consumers do not have money to spend, then you can lower their taxes to 0%. they still cannot spend because they do not have any income. guest: i think that is a great point. it brings up one thing we have not mentioned yet. the payroll tax cut is about to expire. if that expires, every paycheck in the country is going to go down about $1,000 on january 1st. that would hurt consumption. it would hurt the customers of businesses. the president has proposed to extend that. i think that is reasonable. we will see a firm public and keep up their opposition or they give in. we have a sleeper here that cannot be ignored. if we do not extend that, every paycheck in the country is going to go down. guest: i agree. we should extend that for another year.
caller: looking at the fiscal cliff, we go back to 2001 with the lowering of the tax rates, meant to create jobs. but in the past 10 or 11 years, we have not had any job creation whatsoever. we keep going back and hearing over and over again that it's going to cost jobs. we do not have jobs to begin with. businesses are out to make money. if consumers do not have money to spend, then you can lower their taxes to 0%. they still cannot spend because they do not have any income. guest: i think...
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Nov 30, 2012
11/12
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. >> facing the prospect of going over the fiscal cliff or extending the lower tax rate and at the upper one, which would you choose? >> i will do everything i can to avoid putting the american economy and the american people through the fiasco of going over the fiscal cliff. [indiscernible] >> as i told the president a couple of weeks ago, there are a lot of things i have wanted in my life, but almost all of them had a price tag attached to them. if we're going to talk about the debt limit in this, there will be some price tag associated with it. >> are you standing by the dollar-for-dollar on spending cuts? >> i continue to believe that any increase on the debt limit has to be accompanied with spending reductions that meet or exceed it. or exceed it. >> thursday house minority leader nancy pelosi democrats are prepared to vote for middle class tax cuts for 98% of americans. these remarks came after democratic leaders came -- met. >> this doesn't have to be a cliff hanger. the president has his pen poised to sign a middle income tax cut. it has passed the senate and house democrats are
. >> facing the prospect of going over the fiscal cliff or extending the lower tax rate and at the upper one, which would you choose? >> i will do everything i can to avoid putting the american economy and the american people through the fiasco of going over the fiscal cliff. [indiscernible] >> as i told the president a couple of weeks ago, there are a lot of things i have wanted in my life, but almost all of them had a price tag attached to them. if we're going to talk about...
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Nov 20, 2012
11/12
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if we go over the fiscal cliff, which is actually more of a hill than a fiscal cliff. what that means essentially is that all tax rates go back to the clinton tax rates. the clinton tax rates were not that horrible. i was happy to be and proud to be a member of the clinton administration and we had a very good economy. >> congressman, are you okay with those rates? >> i don't accept, and i usually agree with the professor, i don't accept that we should all just wait until the new administration comes in. i don't think that puts us in a better place at all. we could raise a lot of money and lose a lot of money at the same time if we let all the tax cuts expire. there's no guarantees that the middle class tax cuts will pass. you're going to have a few less republicans in the house of representatives. i don't agree with that. i think we should make an effort. let me tell you something. i think we should look at the example of president when he was a senator, senator obama and senator mccain, when they made that decision in september, both of them, in the heat of a preside
if we go over the fiscal cliff, which is actually more of a hill than a fiscal cliff. what that means essentially is that all tax rates go back to the clinton tax rates. the clinton tax rates were not that horrible. i was happy to be and proud to be a member of the clinton administration and we had a very good economy. >> congressman, are you okay with those rates? >> i don't accept, and i usually agree with the professor, i don't accept that we should all just wait until the new...
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Nov 7, 2012
11/12
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must resolve the fiscal cliff to maintain that aaa credit rating. we'll talk to the man taking the call coming up, david riley and at&t raising its dividend this morning. news about capital spending. david faber has an exclusive interview with ceo randall stephenson live from new york city. futures look weak down 1/14. "squawk on the street" live from post nine is back in a minute. i was in the ambulance and i was told to call my next of kin. at 33 years old, i was having a heart attack. now i'm on a bayer aspirin regimen. [ male announcer ] be sure to talk to your doctor before you begin an aspirin regimen. i didn't know this could happen so young. take control, talk to your doctor. ♪ welcome to the world leader in derivatives. welcome to superderivatives. >>> president obama enjoying an election victory. phil lebeau joins us from mccormick place in chicago where the speech took place talking about the mood there today and the hard work begins again. >> reporter: it will be interesting to see over the next couple of weeks besides the fiscal cliff
must resolve the fiscal cliff to maintain that aaa credit rating. we'll talk to the man taking the call coming up, david riley and at&t raising its dividend this morning. news about capital spending. david faber has an exclusive interview with ceo randall stephenson live from new york city. futures look weak down 1/14. "squawk on the street" live from post nine is back in a minute. i was in the ambulance and i was told to call my next of kin. at 33 years old, i was having a heart...
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Dec 4, 2012
12/12
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he's got to get it done -- >> he's got to get it done -- >> you go off that fiscal cliff you're part of the chaos and you're in the midst of the chaos. >> however he gets there, he will get there. >> okay captain ahab. >> thank you, michael and steven. . i'm where michael tonight. drives people crazy. a broken clock is right twice a day. up next, the latest from sarah palin who is never, ever right! she says the president is turning the nation commie. wait until you hear her. she's still at it and totally irrelevant. this is "hardball," the place for politics. two years ago, the people of bp made a commitment to the gulf. bp has paid over twenty-three billion dollars to help those affected and to cover cleanup costs. today, the beaches and gulf are open, and many areas are reporting their best tourism seasons in years. and bp's also committed to america. we support nearly 250,000 jobs and invest more here than anywhere else. we're working to fuel america for generations to come. our commitment has never been stronger. look this isn't my first christmas. these deals all seem great at
he's got to get it done -- >> he's got to get it done -- >> you go off that fiscal cliff you're part of the chaos and you're in the midst of the chaos. >> however he gets there, he will get there. >> okay captain ahab. >> thank you, michael and steven. . i'm where michael tonight. drives people crazy. a broken clock is right twice a day. up next, the latest from sarah palin who is never, ever right! she says the president is turning the nation commie. wait until...
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Oct 18, 2012
10/12
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FOXNEWS
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no leadership when it comes to the fiscal cliff we will face with tax rates going up january 1 or the sequester hitting january 2nd or the need to increase the debt limit in the middle of february. the president has been awol campaigning since a year ago labor day. >>carl: the white house denying the president is awol and sees no point sitting down if they will not do what he wants which is tax increases on the table and republicans say they will not do that. that is the key obstacle to a deal and both are willing to play chicken until at election. they want to see who is in power . carl karl the idea they will get anything before the election is ridiculous. the partisan will be loud. it is so nasty there is no way they can get back to the table after the election to negotiate. they know they will negotiate. they will throw everything they can and the kitchen sink at each other so a lot of this is disingenuous. both sides will go make a deal knowing they will not sit down until a. it will be water under the dam. >>shepard: we talk about the electoral count and the map has changed. i h
no leadership when it comes to the fiscal cliff we will face with tax rates going up january 1 or the sequester hitting january 2nd or the need to increase the debt limit in the middle of february. the president has been awol campaigning since a year ago labor day. >>carl: the white house denying the president is awol and sees no point sitting down if they will not do what he wants which is tax increases on the table and republicans say they will not do that. that is the key obstacle to a...
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Nov 9, 2012
11/12
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will go over the fiscal cliff next year. the rating agency however says policymakers are likely to compromise in time to avoid most if not all potential economic effects of that. meanwhile nonpartisan cbo says if america does go over the cliff, the economy will return to a recession and unemployment will go over 9%. joining us now with the european perspective is an draw balls from pimco. andrew, good morning. we've spent so much time talking aboutdraw balls from pimco. andrew, good morning. we've spent so much time talking abouteaw balls from pimco. andrew, good morning. we've spent so much time talking aboutw balls from pimco. andrew, good morning. we've spent so much time talking about the fiscal cliff. what outcome do you view as most likely? >> the biggest risk is gridlock. we stau last summer when the u.s. was downgraded by one of the ratings agencies. so that's a big race. and related to that, even with the relatively benign outcome, this is a very difficult dispiriting process and kind pact confident business investm
will go over the fiscal cliff next year. the rating agency however says policymakers are likely to compromise in time to avoid most if not all potential economic effects of that. meanwhile nonpartisan cbo says if america does go over the cliff, the economy will return to a recession and unemployment will go over 9%. joining us now with the european perspective is an draw balls from pimco. andrew, good morning. we've spent so much time talking aboutdraw balls from pimco. andrew, good morning....
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Dec 5, 2012
12/12
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he's got to get it done -- >> he's got to get it done -- >> you go off that fiscal cliff, you're part of the chaos and you're in the midst of the chaos. >> however he gets there, he will get there. >> okay, captain ahab. thank you, michael steele and steven mcmahon. i'm with michael tonight. drives people crazy. a broken clock is right twice a day. >>> up next, the latest from sarah palin who is never, ever right! she says the president is turning the nation commie. wait until you hear her. she's still at it and totally irrelevant. this is "hardball," the place for politics. [ thunder crashes] [ female announcer ] some people like to pretend a flood could never happen to them. and that their homeowners insurance protects them. [ thunder crashes ] it doesn't. stop pretending. only flood insurance covers floods. ♪ visit floodsmart.gov/pretend to learn your risk. >>> back to "hardball." in the "sideshow," a protest takes a turn for the better. it started out when ohio senator rob portman took to a stage at a fix the debt conference in washington today. a group of protesters pre-empted
he's got to get it done -- >> he's got to get it done -- >> you go off that fiscal cliff, you're part of the chaos and you're in the midst of the chaos. >> however he gets there, he will get there. >> okay, captain ahab. thank you, michael steele and steven mcmahon. i'm with michael tonight. drives people crazy. a broken clock is right twice a day. >>> up next, the latest from sarah palin who is never, ever right! she says the president is turning the nation...
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Oct 11, 2012
10/12
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when we look at arizona and the unemployment rate, the housing prices, the fiscal cliff, it's extremely. amid all of that, there is opportunity for us to grow. we have to look at this in short-term and long-term. what is it that we can do to bring jobs right now? what we have to do it is provide incentives to be able to get small business started again. we have to be able to look it infrastructure needs. one of the challenges as i have travelled around the state and i have gone to the old williams air force base. i have gone to the other air force base. i hear from the businessmen, we need infrastructure. what they tell me is, congressman flake is not available because he believes these things are bad. i think we ought to be doing is working with business to create infrastructure to make arizona the most attractive place to live and people will come with their ideas and business will grow. even the mayor of mesa, who is a republic has said to me, we cannot depend on congressman flake. i will be there to provide that help to build infrastructure. >> respond, please. >> i will give him th
when we look at arizona and the unemployment rate, the housing prices, the fiscal cliff, it's extremely. amid all of that, there is opportunity for us to grow. we have to look at this in short-term and long-term. what is it that we can do to bring jobs right now? what we have to do it is provide incentives to be able to get small business started again. we have to be able to look it infrastructure needs. one of the challenges as i have travelled around the state and i have gone to the old...
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Dec 4, 2012
12/12
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i think that fiscal cliff is just a big red herring. your district has the shortest life span in the country for women. the infant mortalithighest infay rate in the country. we follow mississippi. i think that is where you are leading the country. if the people of the united states want to see where you and the republican party -- come and look at your district. guest: i would be delighted to have people come and look at my district and then it is 14,000 farms and ranches with two military installations. 5 colleges and universities. 11 indian tribes. the best college football team in america. it is a very special place. i would argue with your statistics. i just won reelection with 68% of the vote. having said all that, the idea that the paul ryan budget is about getting rid of social programs is ntot so. it is about saving them. these programs are going bankrupt. all are going to have to be reformed. if the president gets every tax increase he is asking for, let's just assume that he did, it would not come close to solving the budgetar
i think that fiscal cliff is just a big red herring. your district has the shortest life span in the country for women. the infant mortalithighest infay rate in the country. we follow mississippi. i think that is where you are leading the country. if the people of the united states want to see where you and the republican party -- come and look at your district. guest: i would be delighted to have people come and look at my district and then it is 14,000 farms and ranches with two military...
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Aug 20, 2012
08/12
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governor dean said that we need this fiscal cliff. it is a whole separate issue. >> it is now 6:36, we were going to finish at 6:30. i would like to go to 6:45, is that ok with you? let's take a couple of questions. led the have a question from here and perhaps a question from back there? if that is ok with the panel. >> you just brought up part of my question. we have been talking about this cliff but what happens if congress does not do anything? what if we do not try to shut it off of a cliff? what is the worst in happens if -- stays levels days wettes where it is. >> if congress does nothing, you go off the cliff. >> if congress does just enough to not go off a cliff, but not enough to slash it down -- >> let's take another question. i have a health insurance customers. it frustrates me when i see -- i do not think business has taken the opportunity under the affordable care at, and states to do not want to put up these insurance exchanges, it would seem to me that business has missed a great opportunity to say, we want to be out
governor dean said that we need this fiscal cliff. it is a whole separate issue. >> it is now 6:36, we were going to finish at 6:30. i would like to go to 6:45, is that ok with you? let's take a couple of questions. led the have a question from here and perhaps a question from back there? if that is ok with the panel. >> you just brought up part of my question. we have been talking about this cliff but what happens if congress does not do anything? what if we do not try to shut it...
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Nov 14, 2012
11/12
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to see the rates raised where does it leave negotiations over the fiscal cliff? >> the negotiations haven't begun and they won't begin in earnest until after thig. there is a lot of speaking to the microphones. inside game and outside game that both parties are playing. obama inside game is telling labor and friends on the left he is not going to one and assuring them he will fight the big fight. at the same time, what i heard in the press conference in another statement was actually popeness to create i ways of producing more revenue that he is open and not going to close down discussions as long as they end up taxing the wealthy. and the middle class don't get hit. so he is trying to not double down on rates as the republicans are running around saying we can't raise rates. i do believe that there is some willingness for him to be open as long as he is longing at a good enough number and good enough source of re-knew from the wealthy. that being said, we are looking at a huge fight because the republicans are really torn up about this. what is an increase in ta
to see the rates raised where does it leave negotiations over the fiscal cliff? >> the negotiations haven't begun and they won't begin in earnest until after thig. there is a lot of speaking to the microphones. inside game and outside game that both parties are playing. obama inside game is telling labor and friends on the left he is not going to one and assuring them he will fight the big fight. at the same time, what i heard in the press conference in another statement was actually...
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Dec 5, 2012
12/12
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he's got to get it done -- >> he's got to get it done -- >> you go off that fiscal cliff, you're part of the chaos and you're in the midst of the chaos. >> however he gets there, he will get there. >> okay, captain ahab. thank you, michael steele and steven mcmahon. i'm with michael tonight. drives people crazy. a broken clock is right twice a day. >>> up next, the latest from sarah palin who is never, ever right! she says the president is turning the nation commie. wait until you hear her. she's still at it and totally irrelevant. this is "hardball," the place for politics. meet the 5-passenger ford c-max hybrid. when you're carrying a lot of weight, c-max has a nice little trait, you see, c-max helps you load your freight, with its foot-activated lift gate. but that's not all you'll see, cause c-max also beats prius v, with better mpg. say hi to the all-new 47 combined mpg c-max hybrid. this reduced sodium soup says it may help lower cholesterol, how does it work? you just have to eat it as part of your heart healthy diet. step 1. eat the soup. all those veggies and beans, that's wh
he's got to get it done -- >> he's got to get it done -- >> you go off that fiscal cliff, you're part of the chaos and you're in the midst of the chaos. >> however he gets there, he will get there. >> okay, captain ahab. thank you, michael steele and steven mcmahon. i'm with michael tonight. drives people crazy. a broken clock is right twice a day. >>> up next, the latest from sarah palin who is never, ever right! she says the president is turning the nation...
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Nov 26, 2012
11/12
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. >> congress returns this week without much can evidence of real progress on avoiding the fiscal cliff. members of congress expect optimism today about the prospects of reach ago deal to avoid the sear of tax increases and spending cuts. democrats and the president wants to raise tax rates for the wealthy, republicans don't. there are more now breaking with grover nord qwest had gotten a majority of republican lawmakers to not support any effort to raise taxes. this morning, senator lindsey graham said that for the good of the country he is ready to violate the antitax pledge. >> i think grover is wrong when you can't cap deductions and buy down debt. i want to buy down debt and create jobs but i will violate the pledge, long story short, for the good of the country only if democrats will do entitlement reform. >> it's not clear when lawmakers and the president will meet next. >> fans of comediancast william are suing him after a performance in oklahoma. >> we now know what is behind a gas explosion in massachusetts. >> the items you'll most likely see the biggest discounts on cyber mo
. >> congress returns this week without much can evidence of real progress on avoiding the fiscal cliff. members of congress expect optimism today about the prospects of reach ago deal to avoid the sear of tax increases and spending cuts. democrats and the president wants to raise tax rates for the wealthy, republicans don't. there are more now breaking with grover nord qwest had gotten a majority of republican lawmakers to not support any effort to raise taxes. this morning, senator...
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Jun 12, 2012
06/12
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and this fiscal cliff can be managed. highly unlikely the dividend tax will revert back to ordinary income. >>> and the scenario everyone is worried about unlikely to happen. even if the germans rebel and e uru owners persist, america is going to continue to be a safe haven for investors. that's great. a lot of us need to look more on the positive side of things. mandy. >> thank you very much. >>> let's get a market flash with brian shactman. >> i can't compare their numbers to themselves. we see their research all the time. guidance quite weak today. look at the stock, trading below the 200 moving average, 9495. about 10 bucks, 10.5%. back to you. >> thanks. >>> we told you how to rebuild your portfolio a moment ago, next, we tell you how to keep it away from europe's growing mess and why this this tornado has erowsive written all over it and you won't believe where it happened. >>> one company wants to dial into all your devices? could there be hidden danger plans out there? [ male announcer ] how do you trade? with sco
and this fiscal cliff can be managed. highly unlikely the dividend tax will revert back to ordinary income. >>> and the scenario everyone is worried about unlikely to happen. even if the germans rebel and e uru owners persist, america is going to continue to be a safe haven for investors. that's great. a lot of us need to look more on the positive side of things. mandy. >> thank you very much. >>> let's get a market flash with brian shactman. >> i can't compare...
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Nov 16, 2012
11/12
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we have the fiscal cliff where tax rates are going to go up for almost every american, wage earner, if congress fails to act. we have sequestration which is a measure which will be the equivalent of a chainsaw going through the government cutting .2% from every budget, whether it's defense, nondefense issues. we have a farm bill which needs to be acted upon. we have, again, the 2008 farm bill which is a five-year measure that's expired and it's critical for rural america that we need to renew the farm bill and to give one small example, which the dairy industry has reminded people that the price of a gallon of milk started in january could potentially go as high as $7 billion if we don't, again, restore and re-authorize the system of price supports that we have in our dairy industry. the violence against women act expires. again, a critical measure so that law enforcement officials all across the country can continue the progress that we're making in terms of the issue of domestic violence and violence against children. again, the list goes on and on. and incredibly, despite the fact t
we have the fiscal cliff where tax rates are going to go up for almost every american, wage earner, if congress fails to act. we have sequestration which is a measure which will be the equivalent of a chainsaw going through the government cutting .2% from every budget, whether it's defense, nondefense issues. we have a farm bill which needs to be acted upon. we have, again, the 2008 farm bill which is a five-year measure that's expired and it's critical for rural america that we need to renew...
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Dec 6, 2012
12/12
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cliff expire, go down the fiscal cliff for tax rates, and adjust the taxes for the 98% through the rebate process. and this could be available for anyone, any president. let the bush tax rates apply as a ceiling, and then apply the rebate process to control the 98%. host: why do you propose that? what is the advantage in your view? caller: because the executive branch, the president, whoever it is, would have the ability to adjust the tax effectively for anyone who falls below the clintons' ceiling, and they could do this anytime. there would not have to go back to congress. -- they would not have to go back to congress. guest: it is true that technically the administration can do some things without even the congress's approval, but it would not be a lasting solution. let's say you could freeze the amount of withholding that you pay three paycheck at the level it was this year, for the 98%, and increase withholdings for everyone else as the law would dictate if you read over the cliff. -- went over the cliff. but the 98%, if they did not actually pass a law to extend the tax cuts for tha
cliff expire, go down the fiscal cliff for tax rates, and adjust the taxes for the 98% through the rebate process. and this could be available for anyone, any president. let the bush tax rates apply as a ceiling, and then apply the rebate process to control the 98%. host: why do you propose that? what is the advantage in your view? caller: because the executive branch, the president, whoever it is, would have the ability to adjust the tax effectively for anyone who falls below the clintons'...
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Dec 3, 2012
12/12
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if we go off the fiscal cliff and congress doesn't take any action to soften the blow, tax rates will go up quite a lot on dividends, from 15% to more than 40% in most circumstances. there are economists who think that will have a big impact on stock markets and they could go down 10%, maybe 20%. i do not think those effects are as strong as some economists believe. i think it is something the market could get over. you're in a long term tax and vanished savings situation. i think you are basically going to be fine unless you're planning on retiring release soon. i do think that is something you have to keep in mind. diversification out of the assets that are most affected by these kinds of taxes is probably never a bad idea. host: john mckinnon is a reporter for "the wall street journal." he is now in the washington bureau. he was a columnist for "the miami herald." what sectors would be hit harder if deductions and loopholes or taken out of the tax code? guest: the stocks that pay a high dividend. these tend to be utility stocks. there are lots of old, established, u.s. industrial f
if we go off the fiscal cliff and congress doesn't take any action to soften the blow, tax rates will go up quite a lot on dividends, from 15% to more than 40% in most circumstances. there are economists who think that will have a big impact on stock markets and they could go down 10%, maybe 20%. i do not think those effects are as strong as some economists believe. i think it is something the market could get over. you're in a long term tax and vanished savings situation. i think you are...
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Aug 8, 2012
08/12
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. >> what he says, is he wig to go to fiscal cliff come january 1st. have everybody's marginal tax rates rides. the point of this is he knows that the real money ♪ with bill o'reilly. he knows that the real money is with the middle class. is he doing everything possible to go after the middle class in terms of the 28 obama care taxes that are going to january 1st. >> bill: i don't believe that for a second. i think -- i just don't believe that for eakd is. what the president's to do is set up a two tier structure. the wealthy in business support everybody else. that's what he wants. >> but he knows the real money is with the middle class and that's coming in second term. >> he may know that. >> mark my word. >> he doesn't care we owe 16 trillion. the president of the united states does not care. >> how you can give tax breaks about caring about the deficit. >> it's not my job to do that. >> romney's job to come up with a plan. he doesn't have one. >> he does have one. >> if he doesn't have one in august you can go run around. the president of the uni
. >> what he says, is he wig to go to fiscal cliff come january 1st. have everybody's marginal tax rates rides. the point of this is he knows that the real money ♪ with bill o'reilly. he knows that the real money is with the middle class. is he doing everything possible to go after the middle class in terms of the 28 obama care taxes that are going to january 1st. >> bill: i don't believe that for a second. i think -- i just don't believe that for eakd is. what the president's to...
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Nov 20, 2012
11/12
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what are three revenue-raising provisions that a pledge synar can vote for in a fiscal cliff resolution? >> sure, the top tax shrimp -- marginal rate from 35 down to 25 you would have great supply-side effects. european average is 25. we are at 35. the canadians are at 17. the and hemorrhaging cash. they are doing that. lower marginal tax -- tax rates, lower capital gains. obama taking the best tax up to 55% after a million dollars -- death tax up. you do not have to be rich to find a house increasing the value, the money saved up in a 401k. supply-side tax deduction account. selling assets -- you talk about the defense department's sitting on a whole bunch of spectrum that it bought at to make available. a lot of assets you can sell. there is land you consult. a whole bunch of oil and the ground if obama gets out of the way of drilling on federal land rather than making it difficult. drilling for oil and natural gas on federal land has declined under obama. he says, look at all of this new drilling and natural gas. on private land where you cannot stop it yet. that is true. but taking
what are three revenue-raising provisions that a pledge synar can vote for in a fiscal cliff resolution? >> sure, the top tax shrimp -- marginal rate from 35 down to 25 you would have great supply-side effects. european average is 25. we are at 35. the canadians are at 17. the and hemorrhaging cash. they are doing that. lower marginal tax -- tax rates, lower capital gains. obama taking the best tax up to 55% after a million dollars -- death tax up. you do not have to be rich to find a...
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Nov 3, 2012
11/12
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WMPT
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that's when the nation would drive off the so-called fiscal cliff. if that were to happen tax rates would go up for nearly every single income group. taxes on investment income would rise. payroll taxes would increase. huge federal spending cuts would be triggered. 1 trillion dollars over 9 years, with the pentagon absorbing about half those cuts. by one estimate, the defense industry alone could lose more than 300 thousand jobs. and some 2 million already unemployed americans would lose their benefits. news reports say that a bipartisan senate group is already trying to fashion an agreement combining spending cuts with a tax code overhaul to keep the country out of a new recession. >> and just last week chief executives of 80 major corporations urged congress to fashion a deal to reduce the deficit and said that increased tax revenues have to be part of the bargain. but an overwhelming majority of house and senate republicans have signed the norquist no tax pledge. so many observers think the best congress will be able to do is pass a stopgap measur
that's when the nation would drive off the so-called fiscal cliff. if that were to happen tax rates would go up for nearly every single income group. taxes on investment income would rise. payroll taxes would increase. huge federal spending cuts would be triggered. 1 trillion dollars over 9 years, with the pentagon absorbing about half those cuts. by one estimate, the defense industry alone could lose more than 300 thousand jobs. and some 2 million already unemployed americans would lose their...
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Nov 29, 2012
11/12
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CNNW
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turn to the fiscal cliff, i know you don't want to get clinical or partisan, or even talk about this ridiculous phrase "fiscal cliff," just in your dealings with the financial issues for the last 30 or 40 years, what is your view about taxation, generally. doesn't america suffer when taxes are slightly higher in terms of economic prosperity? or is that just a bit of a myth? >> well, i think there are a lot of theories running around out there. and i have the formal education, and finance degree so i studied economics like a lot of us did. i was formally taught, the proper way is that way. that seems to be the direction of the obama administration, the idea to raise taxes. and the government control the reinvestment interest the economy. really, there is not much evidence that that has worked. it didn't work under obama or bush, even an argument it didn't work under fdr, which is where it came from. that probably world war ii bailed us out of the economic slump, probably called the great depression, rather than that. i am a sophisticated guy, i don't have a lot of sophisticated looks
turn to the fiscal cliff, i know you don't want to get clinical or partisan, or even talk about this ridiculous phrase "fiscal cliff," just in your dealings with the financial issues for the last 30 or 40 years, what is your view about taxation, generally. doesn't america suffer when taxes are slightly higher in terms of economic prosperity? or is that just a bit of a myth? >> well, i think there are a lot of theories running around out there. and i have the formal education,...
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Nov 29, 2012
11/12
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CURRENT
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. >> of course all of this negotiation around the fiscal cliff, the president actually indicated today that he might be president-electable. he says he's not necessarily looking for income tax rates as high as they were under president clinton. secretary geithner is going to meet with congressional leaders tomorrow. do you think they will demonstrating some wiggle room, as well? >> i personally don't think it's that big of a banner sign. if there was actually a movement toward a deal, i think you'd see president obama meeting with these leaders in congress as opposed to cabinet aids. i'm hearing democrats still pressing the case. they're still making the argument that they want to raise taxes on that small percentage of americans. the white house has not put forth any specifics. depending how the president secretary goes, there is miles of space in between the two sides on this one. >> all right. one of my favorite reporters juana summers with politico. thank you for joining us. >> up next, it has several layers. the story on the outside is far different than the inside. yes, as far as
. >> of course all of this negotiation around the fiscal cliff, the president actually indicated today that he might be president-electable. he says he's not necessarily looking for income tax rates as high as they were under president clinton. secretary geithner is going to meet with congressional leaders tomorrow. do you think they will demonstrating some wiggle room, as well? >> i personally don't think it's that big of a banner sign. if there was actually a movement toward a...
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Jun 3, 2012
06/12
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KTVU
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with respect to the third question about tax mageddon or the fiscal cliff it would be in the interest of everybody in the country if the congress and administration got together air le on a plan. business cannot operate not knowing what its tax rates are going to be next year. not knowing how the government is going to financial next year. the lack of action with respect to all these matters on capitol hill is very disruptive for the economy. >> chris: do you think the president's continued bashing of wall street and the wealthy is helpful when the economy is in such trouble. >> i think the president has found the right balance in his conversations about wall street and made clear private equity is a legitimate respectable business and important ar partf our financing activities. on the other hand the president also said we can't be in a situation where you have a relatively few number of people doing so well and the rest of the country doing so poorly and need to find not necessarily redistribution policies but policies who will bring up the 99% who are not participating. >> chris: s
with respect to the third question about tax mageddon or the fiscal cliff it would be in the interest of everybody in the country if the congress and administration got together air le on a plan. business cannot operate not knowing what its tax rates are going to be next year. not knowing how the government is going to financial next year. the lack of action with respect to all these matters on capitol hill is very disruptive for the economy. >> chris: do you think the president's...
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Nov 7, 2012
11/12
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MSNBC
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the central question and fiscal cliff, are we going to go back to the clinton era tax rates. 36% and 39.6% rates? we have been living a decade without them. it exploded the deficit. didn't do anything for economic growth. here's the final opportunity for democrats to get back to the clinton level and seems to me the nightmare scenario of democrats is obama short circuits the opportunity here, cuts the grand bargain more on the republicans' terms and revenue source that boehner is looking for and entitlement reform aspect and shouldn't this be something democrats should be willing to work for? >> well, look. speaker boehner ignored the fact that in 2011 the president agreed to what the equivalent of a trillion dollars in spending cuts already. and that's certainly has to be factored in to the equation talking about spending cuts because that's part of it. but look, simpson-bowles says we can do this. we can cut the corporate tax rates significantly by removing a lot of the corporate loopholes that would produce a whole lot of revenue. a boatload of revenue. the devil is in the details
the central question and fiscal cliff, are we going to go back to the clinton era tax rates. 36% and 39.6% rates? we have been living a decade without them. it exploded the deficit. didn't do anything for economic growth. here's the final opportunity for democrats to get back to the clinton level and seems to me the nightmare scenario of democrats is obama short circuits the opportunity here, cuts the grand bargain more on the republicans' terms and revenue source that boehner is looking for...
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Nov 14, 2012
11/12
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CNBC
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the fiscal cliff may be solved and interest rates, as you say, may indeed go up. >> true. munis are a whole different story. they'll suffer but not as much because of the tax-free nature. if you buy them by themselves, they'll mature. bond funds have no maturity and therein lies the problem. >> thank you, mr. clark. to summarize, go short duration if you're in a fund and try to hedge it with an etf. carl, back to you. >> good advice. european close coming up after a break. don't go away. future. since ameriprise financial was founded back in 1894, they've been committed to putting clients first. helping generations through tough times. good times. never taking a bailout. there when you need them. helping millions of americans over the centuries. the strength of a global financial leader. the heart of a one-to-one relationship. together for your future. ♪ >>> the european markets are closing now. >> not only a sea of red, simon, but a lot of data out of europe that wasn't encouraging either. >> that's true. for many in financial markets, also the turmoil you see on the st
the fiscal cliff may be solved and interest rates, as you say, may indeed go up. >> true. munis are a whole different story. they'll suffer but not as much because of the tax-free nature. if you buy them by themselves, they'll mature. bond funds have no maturity and therein lies the problem. >> thank you, mr. clark. to summarize, go short duration if you're in a fund and try to hedge it with an etf. carl, back to you. >> good advice. european close coming up after a break....
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Dec 5, 2012
12/12
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MSNBCW
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tonight's question, can both parties reach an agreement on the fiscal cliff before the end of the year? text a for yes, text b for no. you can go to our blog and leave a comment. we encourage that. we'll bring results later on in the show. >>> coming up, more of my interview with nancy pelosi. and the republicans so-called fiscomisal stay tuned. new prilosec otc wildberry is the same frequent heartburn treatment as prilosec otc. now with a fancy coating that gives you a burst of wildberry flavor. now why make a flavored heartburn pill? because this is america. and we don't just make things you want, we make things you didn't even know you wanted. like a spoon fork. spray cheese. and jeans made out of sweatpants. so grab yourself some new prilosec otc wildberry. [ male announcer ] one pill each morning. 24 hours. zero heartburn. satisfaction guaranteed or your money back. >>> elizabeth warren is close to locking up a spot on the banking committee. sherrod brown of ohio on what it means for consumers. >>> and later senator john kerry takes on republicans for voting down a treaty to prote
tonight's question, can both parties reach an agreement on the fiscal cliff before the end of the year? text a for yes, text b for no. you can go to our blog and leave a comment. we encourage that. we'll bring results later on in the show. >>> coming up, more of my interview with nancy pelosi. and the republicans so-called fiscomisal stay tuned. new prilosec otc wildberry is the same frequent heartburn treatment as prilosec otc. now with a fancy coating that gives you a burst of...
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Jul 2, 2012
07/12
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MSNBC
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taxes will have big market implications beginning this fall, far before the fiscal cliff hit. they pointed out the slow down before january 1st. it's hard to say we will raise taxes, but we don't mean it. there will be a deal at the other side when there is no deal to be struck. that is the question, what are the chances of a deal? >> the chances of a deal are fairly low. i don't think anything any of us can say will change that. the president and the democrats to their credit are holding firm on this idea that any deal must include revenues and you have a bunch of conservatives that will pledge never to accept that. we may be looking at going-over the cliff. the important thing is the grown ups in the room start talking about crafting a deal that is balance and includes revenues as well as spending cuts. that compromise is essential. >> we are out of time, but what are the grown ups in the room and who can make this happen? >> we saw a great formulation from the former deputy director who said yeah, extend the tax code, but have it be tied to the commitment that can include a
taxes will have big market implications beginning this fall, far before the fiscal cliff hit. they pointed out the slow down before january 1st. it's hard to say we will raise taxes, but we don't mean it. there will be a deal at the other side when there is no deal to be struck. that is the question, what are the chances of a deal? >> the chances of a deal are fairly low. i don't think anything any of us can say will change that. the president and the democrats to their credit are holding...
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Oct 25, 2012
10/12
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FBC
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how many ceos have to write a letter before congress fixes the fiscal cliff? eighty, 100 to 1,000? does it matter. log on to gerriwillis.com and on the right-hand side of the screen and all share the results of the end of the show. meanwhile, low interest rates may be helping borrowers with -- but they are hurting lenses. banks taking a big hit. just yesterday the fed said rates will mean an chaste until mid 2015. fred k. joins me now, director of research at senior equity strategist for the miss the big firm of keep -- keith bullion and whites. welcome to the show. talk to me for a second about what is going on with bank earnings in the face of these low rates? >> great to be on. there are good things and bad things we saw. banks are still doing pretty well, over 65 percent are beating estimates, but the outlook is very difficult because they're beating estimates because credit is getting better and mortgage banking is good. if you look out for this yield curve that the fed is engineering is pushing down rates to such a low level that the spread that banks earn between deposits an
how many ceos have to write a letter before congress fixes the fiscal cliff? eighty, 100 to 1,000? does it matter. log on to gerriwillis.com and on the right-hand side of the screen and all share the results of the end of the show. meanwhile, low interest rates may be helping borrowers with -- but they are hurting lenses. banks taking a big hit. just yesterday the fed said rates will mean an chaste until mid 2015. fred k. joins me now, director of research at senior equity strategist for the...
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Jun 8, 2012
06/12
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CNNW
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cliff. one way to do that would be to extend the middle class tax cuts immediately, in fact for 99% of the american people, and replace the sequester with a balanced approach to deficit reduction. what's not helpful are the kind of comments that you heard when you were here in washington from speaker boehner who was threatening that the united states will not meet its financial obligations unless we adopt the kind of austerity measures that we've seen in europe that have been a failure. that is the wrong approach. it undermines confidence and then will slow down the economy when you generate that kind of uncertainty. >> all right. sir, thank you very much. appreciate it. representative chris van hollen. here is a show that is rooting that we don't have any more back stops. solve the real problem. no more buffett rules, this, that, come on. >>> still outfront, 2,000 players join a lawsuit against the nfl. is america's true pastime about to be sacked? >>> and tensions in greece spilling out ph
cliff. one way to do that would be to extend the middle class tax cuts immediately, in fact for 99% of the american people, and replace the sequester with a balanced approach to deficit reduction. what's not helpful are the kind of comments that you heard when you were here in washington from speaker boehner who was threatening that the united states will not meet its financial obligations unless we adopt the kind of austerity measures that we've seen in europe that have been a failure. that is...
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Dec 17, 2012
12/12
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FBC
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if he refuses to raise tax rates and the president demands higher tax rates, then we go over the fiscal cliff, we go into recession and the republicans get the blame. i think that's your argument, scott, right? what do you make of that, john? >> well, i mean, i think that certainly a risk, but i'm not sure that obama gets out scot-free on this if we go over the cliff. i mean there's a lot to lose for everybody. and the point is is that you either believe in the economic approach that we talked about as a party in 2012, or you don't. and if you go ahead with obama's plan, essentially you're conceding that, you know what? we don't really believe this makes sense. we think the government should be spending more money. stuart: do you think the president will bend in return or do you think he actually wants to go over the cliff? >> i think he eventually will bend, but it is really hard to tell when obama's dictating and boehner is caving. stuart: let's leave it at that because i think you have expressed it precisely. i think you have it right. john, thank you very much for joining us. we app
if he refuses to raise tax rates and the president demands higher tax rates, then we go over the fiscal cliff, we go into recession and the republicans get the blame. i think that's your argument, scott, right? what do you make of that, john? >> well, i mean, i think that certainly a risk, but i'm not sure that obama gets out scot-free on this if we go over the cliff. i mean there's a lot to lose for everybody. and the point is is that you either believe in the economic approach that we...
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Jul 8, 2012
07/12
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and we have got the fiscal cliff coming at the end of the year. you know, what we ought to be doing is to extend the current tax rates for another year with a hard requirement to get through the comprehensive tax reform one more time. i negotiated with vice president biden, the two-year extension of the current tax rates that we're in right now. the president signed it because he argued that the taxes going up would make the economy worse. we have a slower growth rate today than we had then. that would settle at least part of the problem. >> let me ask you, though, because they are doing nothing because you are all at odds over what you should do. is, in fact, a lot of people argue slowing the growth of the economy here in the u.s. and adding to the jobless rate which is pretty tepid. i want to play you something that is from the managing director of the imf. >> the threat, only the threat of the delay in raising the debt ceiling and of the fiscal cliff could weaken growth already later this year, and should they materialize because no agreement c
and we have got the fiscal cliff coming at the end of the year. you know, what we ought to be doing is to extend the current tax rates for another year with a hard requirement to get through the comprehensive tax reform one more time. i negotiated with vice president biden, the two-year extension of the current tax rates that we're in right now. the president signed it because he argued that the taxes going up would make the economy worse. we have a slower growth rate today than we had then....
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Dec 7, 2012
12/12
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CSPAN
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if the fiscal cliff debate is only limited to tax rates and deficit reduction, and not the debt ceiling, this will come up again. president obama once the debt ceiling to be part of this agreement. the reason why is simple, because that is where republicans have leverage in february. he needs republicans to extend the debt ceiling for the government to function with all going into default. republicans know this, and in theory they could separate the two to maximize their leverage. host: time for a couple more calls in this segment of the "washington journal," we will continue the unemployment insurance discussion in the following segment. laura is in louisville, kentucky, on the independent line. caller: good morning. what bothers me is when people say they actually can not find work and they have been on unemployment for 20 months, whatever they can get, and i will tell you my husband lost his job five years ago. he was with a company for 23 years. immediately we went into survival mode. we thought about what we could do to reduce bills, simplify our lifestyle in case he could not find
if the fiscal cliff debate is only limited to tax rates and deficit reduction, and not the debt ceiling, this will come up again. president obama once the debt ceiling to be part of this agreement. the reason why is simple, because that is where republicans have leverage in february. he needs republicans to extend the debt ceiling for the government to function with all going into default. republicans know this, and in theory they could separate the two to maximize their leverage. host: time...
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Nov 9, 2012
11/12
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CURRENT
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cliff we're going to head back into recession, the unemployment rate would spike to over 9%. terrible picture! but dear junkies, take a deep breath. because it ain't gonna happen. mark my words. the one thing that congress loathes more than losing elections is getting their rear ends handed to them by every newspaper, businessperson and senior citizen clinging to an i.r.a. they cannot handle the heat of doing nothing. so believe me, they will act. i predict that they're going to extend the deadline until after the new congress arrives to give them time to work out a deal. it's going to be all over in a couple of months and it is going to be a fair and balanced solution. and really, based on exit polls voters seem to want that. in fact, the majority of people, six in ten said that they're willing to accept tax increases to avoid plunging the economy back into a recession. not to mention that the higher taxes are going to be on the wealthy. so it is easier for them to stomach. you know the old line, don't tax me. tax the man behind the tree meaning the rich guy behind the tree
cliff we're going to head back into recession, the unemployment rate would spike to over 9%. terrible picture! but dear junkies, take a deep breath. because it ain't gonna happen. mark my words. the one thing that congress loathes more than losing elections is getting their rear ends handed to them by every newspaper, businessperson and senior citizen clinging to an i.r.a. they cannot handle the heat of doing nothing. so believe me, they will act. i predict that they're going to extend the...